WSFS Financial (WSFS) Sets New 1-Year Low at $43.91

WSFS Financial Co. (NASDAQ:WSFS) hit a new 52-week low during trading on Friday . The company traded as low as $43.91 and last traded at $44.03, with a volume of 4555 shares traded. The stock had previously closed at $44.86.

A number of brokerages have commented on WSFS. BidaskClub raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Stephens reissued a “buy” rating and set a $58.00 price objective on shares of WSFS Financial in a report on Monday, August 13th. ValuEngine lowered shares of WSFS Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research raised shares of WSFS Financial from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Thursday, July 26th. Finally, Sandler O’Neill reissued a “buy” rating and set a $63.00 price objective on shares of WSFS Financial in a report on Sunday, August 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. WSFS Financial has a consensus rating of “Hold” and an average price target of $59.67.

The company has a market cap of $1.43 billion, a PE ratio of 17.01, a PEG ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.03 and a current ratio of 1.03.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.08. The company had revenue of $95.98 million for the quarter, compared to analyst estimates of $93.63 million. WSFS Financial had a net margin of 20.57% and a return on equity of 13.02%. On average, equities analysts predict that WSFS Financial Co. will post 3.53 earnings per share for the current year.

In other WSFS Financial news, CFO Dominic C. Canuso bought 4,245 shares of WSFS Financial stock in a transaction dated Thursday, August 30th. The shares were bought at an average price of $48.95 per share, with a total value of $207,792.75. Following the purchase, the chief financial officer now owns 3,447 shares of the company’s stock, valued at $168,730.65. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark A. Turner sold 12,995 shares of the firm’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $47.59, for a total transaction of $618,432.05. Following the completion of the transaction, the chief executive officer now directly owns 144,631 shares in the company, valued at approximately $6,882,989.29. The disclosure for this sale can be found here. Insiders sold a total of 161,205 shares of company stock worth $8,204,497 in the last ninety days. Insiders own 4.89% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of WSFS Financial by 9.1% in the 2nd quarter. Macquarie Group Ltd. now owns 1,063,000 shares of the bank’s stock valued at $56,658,000 after purchasing an additional 88,373 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $252,000. Millennium Management LLC raised its position in shares of WSFS Financial by 70.0% in the 1st quarter. Millennium Management LLC now owns 102,439 shares of the bank’s stock valued at $4,907,000 after acquiring an additional 42,198 shares during the period. Tower Bridge Advisors acquired a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $213,000. Finally, OppenheimerFunds Inc. raised its position in shares of WSFS Financial by 27.2% in the 2nd quarter. OppenheimerFunds Inc. now owns 564,319 shares of the bank’s stock valued at $30,078,000 after acquiring an additional 120,721 shares during the period. 78.59% of the stock is currently owned by institutional investors.

About WSFS Financial (NASDAQ:WSFS)

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.

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